02/16/2023
WHAT'S AN RMD YOU SAY? FED SAYS: THERE ARE HUGE PENALTIES for Missing RMD Deadlines.
What happens if you miss the deadline? You could get hit with one of Uncle Sam’s harshest penalties—50% of the shortfall. If you were supposed to take out $15,000 but only took $11,000, for example, you’d owe a $2,000 penalty plus income tax on the shortfall.
Do you Have an IRA?
Do You Have a 401(k), 403(b) plan?
Do You Know the changes that took place recently regarding the RMD or required minimum distribution?
GFS Financial Advisors, LLC is sponsoring a free IRA clinic 2-23-23.
2 classes too choose from. 11:00 am and 6:00 PM.
Call 570-501-1200 or PM us for Free tickets. Seating is limited.